Mitsubishi UFJ Trust & Banking Corp Sells 52,592 Shares of Simon Property Group, Inc. $SPG

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,547 shares of the real estate investment trust’s stock after selling 52,592 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Simon Property Group worth $61,095,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Simon Property Group during the second quarter worth about $1,051,262,000. JPMorgan Chase & Co. increased its holdings in Simon Property Group by 34.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Simon Property Group in the second quarter worth approximately $68,013,000. State Street Corp raised its stake in shares of Simon Property Group by 1.1% in the second quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock worth $3,448,703,000 after purchasing an additional 228,819 shares during the last quarter. Finally, Aviva PLC lifted its holdings in shares of Simon Property Group by 698.3% in the second quarter. Aviva PLC now owns 243,931 shares of the real estate investment trust’s stock valued at $39,214,000 after purchasing an additional 213,374 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday. Barclays restated a “positive” rating and set a $188.00 price target on shares of Simon Property Group in a report on Tuesday, January 13th. Scotiabank increased their price objective on shares of Simon Property Group from $186.00 to $189.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Finally, UBS Group lifted their target price on shares of Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $194.64.

Insider Activity

In other news, Director Reuben S. Leibowitz purchased 480 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the purchase, the director owned 53,639 shares of the company’s stock, valued at $9,976,854. The trade was a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glyn Aeppel acquired 216 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the purchase, the director directly owned 19,481 shares in the company, valued at $3,623,466. This trade represents a 1.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 2,192 shares of company stock worth $407,712. 8.66% of the stock is owned by company insiders.

Simon Property Group Price Performance

SPG opened at $184.83 on Friday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The firm has a 50-day moving average of $184.23 and a 200 day moving average of $178.66. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $60.34 billion, a P/E ratio of 26.90, a PEG ratio of 6.85 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the company earned $3.05 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a $2.20 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Wednesday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Simon Property Group Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.